Ethereum killer Binance Smart Chain? ETH fees degenerate

Ethereum killer Binance Smart Chain? ETH fees degenerate

It is not only the trading volume that is currently reaching record highs on the Ethereum Blockchain. The fees are also shooting through the roof again and again. Is Ethereum becoming a playground for the wealthy?

The Ethereum network is at a crossroads. While rising trading volumes and the staking test run on the Beacon Chain testify to a huge Ether demand, fees for narrow The News Spy wallets have become prohibitive. This makes other platforms like the Binance Chain increasingly attractive to retail investors. Is Ethereum squandering its status as the world’s computer?

For Ether investors, it’s a nagging topic: fees, or in Ether-speak: gas fees. Since January, fees have not averaged less than US$5, according to bitinfocharts, and only reached a sad record high of US$38 on 23 February. At the current level of 20 US dollars, the peak has been corrected downwards considerably. However, there can be no talk of affordable fees.

The rise is above all evidence of an exponentially increasing trading volume. As Ryan Watkins, an analyst at Messari, communicated in a tweet, the „turnover figures“ so far point to a record-breaking first quarter. Watkins projects the potential trading volume settled in Q1 to be US$1.6 trillion based on transactions to date. By comparison, the trading volume processed via the Ethereum blockchain in Q1 2020 was still 116 billion US dollars.

So the facts speak for themselves: Ethereum is experiencing a heyday, never before has the rush been so great. According to Ryan Watkins, the trading volume is the best proof that investors are not migrating to other blockchains. But this could just be a snapshot.

Ethereum killer Binance?

As on-chain data platform Coinmetrics points out, the high transaction fees have „led to new rounds of conversation about potential Ethereum killers“. If fees remain at such high levels, other smart contract platforms could „overtake Ethereum’s big lead in decentralised applications“. According to the report, the hottest contender is the Binance Smart Chain (BSC).

The Binance Smart Chain is emerging as the new DeFi hotspot. The Total Value Locked (TVL) is already more than a quarter of the Ethereum Blockchain at just under 10 billion US dollars. In contrast to Ethereum, the transaction fees are in the cent range. In addition, transactions can be executed faster than with Ethereum. Small investors in particular see the Binance Smart Chain as a viable alternative to Ethereum.

This trend is impressively reflected in the price performance of the Binance Coin (BNB), which has already moved up to third place among the largest crypto assets with a market capitalisation of over 37 billion US dollars. The growth of the DEX PancakeSwap (CAKE), which is based on the Binance Smart Chain, also underlines this trend. Moreover, the Binance Smart Chain is compatible with the Ethereum Virtual Machine (EVM). However, one drop of bitterness remains: in the hands of the largest crypto exchange Binance, the BSC network is highly centralised.

According to Coinmetrics, the usury of fees in the Ethereum network has not led to a decline in the number of daily active ETH addresses. But the longer the transition to Etheruem 2.0 drags on, the more Ethereum runs the risk of becoming a marketplace for high earners.

Only with the transition to phase 1 should fees return to normal. According to chief developer Vitalik Buterin, the transaction throughput already increases 6,400-fold with the implementation of the first scaling solutions. Transaction costs should fall dramatically in the wake of this. But until then, Ether investors will still have to put up with fee usury. The start of phase 1 is roughly scheduled for September this year.

Grayscale could offer Chainlink (LINK), Basic Attention Token (BAT) and Tezos (XTZ) trusts

Asset manager Grayscale, which has been particularly hungry for cryptocurrency lately, is reportedly expanding its offering to Chainlink (LINK), Basic Attention Token (BAT) and Tezos (XTZ).

Grayscale would turn to LINK, BAT and XTZ

Would the cryptocurrency giant want to diversify its offer , while the altcoins bull run has helped propel certain assets to new heights? This is what seems to suggest a document from the State of Delaware , which was unearthed by the crypto community. Grayscale seems to want to establish a trust based on the LINK and others based on BAT’s Brave, the XTZ of Tezos the MANA of e Decentraland and the LPT Livepeer .

The document was registered under the name „Delaware Trust Company“ at the end of December. This is one of Grayscale’s service providers, and it is already this name that was used to set up the asset manager’s Bitcoin trust. However, we will have to wait for Grayscale’s confirmation before getting excited about this addition – the giant had registered a similar document concerning Filecoin (FIL) last October, but no trust was proposed following this.

The Happy New Year of Chainlink (LINK)

Grayscale’s possible interest in the LINK is not entirely a surprise. Altcoin had a particularly prosperous start to the year. After entering the top 10 cryptocurrencies by capitalization , it stole its place from a Bitcoin Cash (BCH) in smaller form. In addition, the LINK exceeded several times its all-time high, crossing the symbolic threshold of 20 dollars in mid-January. Its capitalization is now approaching that of Litecoin (LTC).

It should also be noted that Grayscale seems to want to choose altcoins with a solid project that goes beyond a simple payment network . Filecoin is indeed a decentralized file storage network, Decentraland is a digital real estate based game, and the BAT is used by the Brave crypto browser. The arrival of institutional investors could thus give new legitimacy to these projects.

Il prezzo di Bitcoin Cash supera i $ 500, quali sono le prospettive per BCH?

Il prezzo di Bitcoin Cash dovrebbe salire al di sopra del livello di $ 550.

Chiude il supporto si trova a livello di $ 500

BCH incontra resistenza nella chiusura sopra il livello di $ 525.

Il prezzo di Bitcoin Cash ( BCH ) sembra aver trovato un forte livello di supporto per avviare una tendenza rialzista. Oggi il prezzo ha superato il livello di $ 500 ed è salito al livello di $ 510 dove si trova attualmente.

Il sentimento più ampio del mercato delle criptovalute rimane rialzista, ma alcuni asset hanno visto i loro prezzi osservare un leggero ritracciamento dal prezzo di apertura della giornata.

BitQT ha iniziato l’anno con uno slancio minimo o nullo su entrambi i lati, poiché il prezzo si è consolidato al livello di $ 350. Il prezzo ha continuato a oscillare intorno al segno per alcuni giorni fino al 3 gennaio, quando il prezzo di Bitcoin Cash ha superato la soglia di $ 375.

Gli acquirenti hanno avviato un rally rialzista che ha portato il prezzo da $ 350 a $ 425. BCH ha osservato una correzione al livello che ha fatto tornare il prezzo al livello di $ 400. Il prezzo ha avviato un altro rialzo il 5 gennaio, anche se con una pendenza inferiore.

Il secondo rialzo rialzista ha consentito a BCH di lasciare il livello di $ 400 e salire sopra il livello di $ 450. Tuttavia, il prezzo non è riuscito a chiudere sopra il segno di $ 450 ed è tornato al livello di supporto a $ 425. Il prezzo è stato scambiato vicino al marco fino ad oggi, quando i mercati BCH hanno finalmente osservato ancora una volta un forte slancio rialzista.

BCH è salito dal livello di $ 425 a oltre il livello di $ 500 con un forte momentum rialzista. Il prezzo è salito sopra quota $ 520 e viene scambiato a $ 523,44 al momento della stampa.

Indicatori tecnici e cosa aspettarsi dal prezzo di Bitcoin Cash

Tra gli indicatori tecnici, il MACD mostra un’inversione rialzista poiché l’EMA a 12 giorni supera l’EMA a 26 giorni. Con l’aumento delle dimensioni delle candele verdi, l’indicatore continuerà a diventare più rialzista. L’indicatore mostra attualmente uno slancio rialzista nei mercati.

L’RSI è stato in costante aumento ed è salito sopra il livello di 70,00. Ciò suggerisce che c’è poco spazio per un movimento immediato verso l’alto. Se BCH continua a salire a questo ritmo, il prezzo di Bitcoin Cash potrebbe osservare un’altra correzione.

Nel complesso, 18 dei 28 principali indicatori tecnici emettono un segnale di acquisto mentre solo tre indicatori emettono un segnale di vendita. Nel frattempo, sette indicatori rimangono neutri, senza mostrare alcun supporto da nessuna parte.

Le bande di Bollinger sono attualmente in espansione, suggerendo un aumento della volatilità dei prezzi di Bitcoin Cash nel breve termine.

I trader dovrebbero aspettarsi che il prezzo di Bitcoin Cash stabilisca un supporto a livello psicologico di $ 500. Ci si dovrebbe aspettare che BCH continui a salire, ma con un ritmo più lento e sostenibile. BCH potrebbe salire al di sopra del livello di $ 525 entro domani.

Al contrario, se il prezzo di Bitcoin Cash scende al di sotto del livello di $ 500, BCH potrebbe rivisitare il livello di supporto di $ 425. Tuttavia, ciò sembra improbabile data la forte pressione rialzista osservata nei mercati

More large institutional investors may enter the bitcoin market in the coming years.

Proposing this hypothesis is JPMorgan Chase analyst Nikolaos Panigirtzoglou, who suggested in a recent note that MassMutual’s investment in BTC highlighted the potential for increased institutional demand for bitcoin in the coming years.

According to JPMorgan analysts, bitcoin adoption is spreading not only among family offices and wealthy investors, but also among insurance companies and pension funds.

While they believe it is unlikely that the latter will ever make investments of very large amounts, even small percentage investments could have a significant impact on the price of BTC.

Suffice it to say that the entire market capitalization of Profit Revolution to date is around $350 billion, while the M0 money supply of the U.S. dollar alone is over $5 trillion, while M1 is over $6 trillion, and M2 is over $19 trillion.

Therefore, with market capitalization still so low, a mass of institutional investment, even not particularly large, could have a significant impact on the price of BTC.

MassMutual for example has only invested 0.04% of its total investment account in bitcoin for now, which is still about $100 million. For example, should they decide to increase this investment to 1% they would have to invest another $2.4 billion.

Imagining another dozen similar initiatives would easily reach $25 billion, capable of moving the price of BTC in a decidedly significant way.

Institutional investors will make Bitcoin grow

JPMorgan strategists reveal that in the theoretical scenario where, over the next few years, all pension funds and insurance companies in the US, eurozone, Britain and Japan invested 1% of their assets in bitcoin, this would result in an additional demand for BTC of around $600 billion, or almost double its entire current market capitalization.

Moreover, an increase in demand tends to be reflected in the price of BTC by larger increases, partly because market capitalization is a purely theoretical metric that cannot be compared to market demand. In other words, 600 billion of additional demand would not mean a 600 billion increase in market capitalization, but would most likely generate a much greater increase in market capitalization, and therefore in price.

For now, large institutional investors still face some technical hurdles when it comes to secure investments in bitcoin, but as the case of MassMutual shows for example, solutions to this problem actually already exist.

Bitcoin price reaches $19,000, but Ripple (XRP) steals the show

The Bitcoin exchange rate can by no means complain about a meagre growth and has jumped above the 19,000 US dollar mark. Meanwhile, the Altcoins are gaining ground – especially Ripple (XRP). The market update.

The Bitcoin exchange rate has cracked the 19,000 US dollar mark. At the time of going to press, BTC is thus trading 1.7 per cent above the level of the previous day. On a weekly basis, the largest crypto currency in terms of market capitalisation grew by around 13 per cent, while Bitcoin rose by 44 per cent on a monthly comparison. Meanwhile, top Altcoins such as Ripple (XRP), Ethereum (ETH) and IOTA (MIOTA) have entered a veritable old season.

Bitcoin (BTC) can no longer be stopped and is approaching its all-time high

Punctually at 8 o’clock in the morning, the Bitcoin course also seemed to have awakened and started to pick up in leaps and bounds. For a short time at 11 a.m. it was able to break through the 19,000 US dollar mark. The market mood is extremely heated and more and more investors seem to be jumping on the Bitcoin bandwagon. Nevertheless, it should not be forgotten that this time it was the institutional investors who first entered the crypto-market. Several factors are therefore likely to come together to fuel the current Bitcoin rally.

In addition to institutional investors such as Microstrategy, Grayscale and Square, PayPal is also driving demand for Bitcoin. According to the company, the demand for its crypto service has been exceeded two to three times. Bitcoin Trader also appears to be catching up. Finally, Bitcoin Halving in May cut Bitcoin’s Block Reward by half. In the previous Bitcoin Halvings, this led to an enormous rally a few months later. After all, if demand remains constant, the price has to rise when the supply quantity falls.

Ripple (XRP) runs away from everyone

At the moment, the Ripple Asset XRP is causing a particular stir with its outbreak after months of cancer. With the sustained breakthrough of the massive resistance at the USD 0.3 mark on 20 November, the Ripple price has set the course for further gains. The XRP train has been heading north at a rapid pace ever since. At the time of writing, the ripple rate is already gnawing at the 0.7 US dollar mark – almost 200 percent above the previous year’s level.

Why is the ripple rate (XRP) rising?

There are several possible explanations for the rapid rise in the XRP price. On the one hand, the XRP purchases announced by Ripple may have fuelled the recent price increase. For example, in its XRP Markets Report on November 5, California-based FinTech reported that it was buying XRP units to „support healthy markets“.

The XRP purchases are related to Line of Credit, a new financial service offered by Ripple to corporate clients. Under this service, corporate customers borrow from Ripple XRP to make cross-border payments. Ripple has provided liquidity by purchasing XRP for a total of $45.5 million in the third quarter. However, the liquidity for the XRP loans is expected to come from the market in the long term.

The credit line beta is an application of Ripple’s On-demand Liquidity Solution (ODL). In contrast to Ripplenet, which only connects partner banks for the exchange of information and not for the settlement of transactions, XRP is used in the ODL. To date, considerably more Ripple partners use the RippleNet than the ODL. These include the money transfer service provider Moneygram, in which Ripple became a shareholder in June 2019.

Central bank rumours and the Ripple course

Since XRP is primarily positioned as a coin for interbank trading, a job advertisement by Ripple has made the XRP Army sit up and take notice. The FinTech is currently looking for a manager for the cooperation with central banks. Amongst other things, it is intended to develop a „strategy for central bank engagement in partnership with Ripple in the areas of products, technology, regulatory relations and marketing with an initial focus on developing a CBDC strategy“.

Water to the mills of the XRP bulls, who like to postulate Ripple Coin as the future „standard“ of the financial world.

Coinbase crashes – no more XRP?

On the US Bitcoin stock exchange Coinbase, the XRP price was quoted above 0.9 US dollars in the early hours of the morning – only to crash back to the 70 cent level shortly afterwards.

However, it seems that XRP transactions in particular have experienced problems.

„I am also in limbo because my XRP was not credited to me and it says that my transaction was cancelled, but the money was taken out of my USD wallet. The money has disappeared!

In the hope that this is a disruption and not something more serious….. please reply if this has happened to you too…“

writes a shocked user on the website And is apparently not alone: Other users report aborted trades in the trading pairs XRPUSD, USDETH, XRP/DAI and others. The suspicion suggests that Coinbase has reached the limits of its capacity – possibly also that of its XRP liquidity.

Coinbase CEO Armstrong did not report until 19 November that the stock market was overburdened by the Bitcoin bull run:

„We are working hard to create additional capacity (both in terms of servers and customer support) to cope with the increased traffic. We thank you for your patience during this period. And many thanks to the team at Coinbase who work hard to serve our customers. Bull Runs can be exciting and stressful“.

This is probably what those Coinbase users who are currently waiting for their money are signing up for.

Grayscale: ‚Ethereum only‘ investors are increasing

Michael Sonnenshein of Grayscale reports strong growth in interest in Ethereum

Bitcoin (BTC) has introduced many investors into the crypto world, but it is Ether (ETH) from Ethereum that, according to Grayscale, is starting to attract more attention.

In a telephone interview with Bloomberg, CEO Michael Sonnenshein explained that 2020 was a year of remarkable growth for the number of „Ethereum only“ investors, highlighting the increased attractiveness outside the development community.

Sonnenshein commented:

„During 2020, we saw a new group of investors focused primarily on Ethereum and in some cases Ethereum only. There is a growing conviction around Ethereum as an asset class“.
Grayscale manages a number of funds that provide investors with direct exposure to the cryptocurrency market. Although Grayscale Bitcoin Trust remains the most popular fund, the company’s Ethereum Trust product has seen a sharp increase in net inflows.

In the third quarter, weekly inflows to the Grayscale Ethereum Trust averaged $15.6 million. Net investments in the largest Bitcoin Trust averaged $55.3 million per week. Overall, the entire range of Grayscale funds received record inflows at the end of October.

A few days ago, Grayscale announced that its Ethereum Trust will undergo a 9-by-1 split on 17 December, a move that could make the fund more attractive to investors. As reported by Cointelegraph, registered shareholders on 14 December will receive eight additional shares for each share they hold.

An important part of Ethereum’s growing attractiveness is the boom in decentralised finance, or DeFi, applications developed above the blockchain. Mike McGlone, strategist at Bloomberg Intelligence, said Ethereum „seems to maintain its leading platform status“ in this emerging market.

Since the beginning of the year, the price of Ether has increased by more than 353 percent, but remains less than half of its all-time high.

Speaking of the future of Ethereum, Sonnenshein said the smart contract platform „has a similar tenacity to Bitcoin.

Making Bitcoin accessible to everyone – Ledger hires heavyweight from LVMH and Apple Music

Ledger offers himself a famous figure – While the customer data hack is still talking about it, Ledger is recruiting Ian Rogers , former head of digital at the world’s number 1 luxury, LVMH. Rogers arrives as Chief Experience Officer (CXO), having launched Apple’s streaming services in 2015 and assisted LVMH in its digital transition.

Ian Rogers, passionate about innovation

Ian Rogers has made a name for himself in the digital world for quite a few years now, notably by participating in the development of Apple Music and by being responsible for digital at LVMH . More than a precursor, Ledger’s new Crypto Engine has repeatedly found itself at the border between disruptive innovation and abstract future .

“I vividly remember being the lunatic trying to convince people of these inevitable futures [cryptocurrencies]. (…) I have a feeling of déjà vu when talking to people about cryptocurrency. (…) It is obvious that digital currencies will be part of our lives and that they will change the face of finance. “

The cryptosphere attracts talent

This recruitment and the many similar cases bode well for the cryptosphere and its businesses. Crypto-businesses are becoming a realistic landing point for the top management of the most fashionable companies. Its forays into Yahoo, Apple and LVHM are making Rogers the perfect example in this area.

Beyond the simple prestige, this recruitment is useful since Rogers will supervise the services to individuals (B2C) at Ledger. This segment of the business has suffered for several months from the theft of customer data and numerous attempted scams resulting from it. Fake SMS campaigns targeting Ledger’s customers have been on the rise lately.

Senator-elekt Cynthia Lummis chce, aby Kongres zostawił Bitcoin w spokoju

Senator-elekt USA i były skarbnik stanu Wyoming, Cynthia Lummis, mówi, że stany powinny być liderem w tworzeniu polityk, które pozwolą Bitcoinowi funkcjonować tak, jak został zaprojektowany.

W wywiadzie dla Petera Chawagi z Bitcoin Magazine, Lummis wyjaśnia, dlaczego uważa, że ​​rząd federalny powinien zająć tylne miejsce i dać stanom swobodę wprowadzania innowacji na rynkach Bitcoin i kryptowalut

„Zabawne w stanach jest to, że widzą się nawzajem wprowadzając innowacje, mają tendencję do naśladowania, a wtedy zobaczysz, że innowacja może wystartować w innym kierunku w innym stanie. Jestem głęboko przekonany, że stany będą na odpowiednim szczeblu władzy, we właściwym miejscu dla wprowadzania innowacji. Dlatego chcę trzymać rząd federalny na dystans i pozwolić stanom działać z ich bardziej przedsiębiorczymi i zwinniejszymi zdolnościami ”.

Lummis mówi, że planuje wyjaśnić innym ustawodawcom, dlaczego powinni unikać nadmiernej regulacji rodzącego się rynku

„Więc moim pierwszym celem jest trzymanie rządu federalnego na dystans. Poinformuj ich, że nie jest to obszar, w którym muszą regulować, i pozwól państwom być inkubatorami innowacji i pozwól, aby innowacje były inkubowane i pielęgnowane tutaj…

Myślę, że jest wiele nieporozumień związanych z Bitcoinem, ale myślę, że nasza obecność w senacie USA może pomóc w utrzymaniu tego na dystans legislacyjny. Wyzwaniem będzie trzymanie w ryzach regulacji we władzy wykonawczej, a skoro nie wiemy jeszcze, jak będzie wyglądać władza wykonawcza, to z pewnością struktura finansowa, sposoby, w jakie nasze prawa finansowe są wdrażane poprzez zamówienia lub poprzez tworzenie przepisów. To będą obszary, które będziemy musieli obserwować i monitorować ”.

Osiągnięcia stanu Wyoming w zakresie innowacji Bitcoin są najlepszym przykładem tego, co stany mogą zrobić, gdy rząd federalny pozwoli im na innowacje, mówi Lummis.

„W moim życiu [rząd] stanowy był zawsze bardziej innowacyjnym i zwinnym, kreatywnym decydentem w przeciwieństwie do rządu federalnego, więc widzę, że dzieje się to w moim rodzinnym stanie Wyoming”.

La filial Crypto de Fidelity tiene como objetivo que los inversores asiáticos compren Bitcoin

Fidelity Digital Assets, la filial orientada a la criptografía de la gigantesca empresa de inversiones americana Fidelity Investments, ha firmado una nueva asociación para facilitar las compras de Bitcoin en Asia.

  • Fidelity Digital Asset Services (FDAS) se ha asociado con Stack Funds para permitir que los inversores asiáticos compren y almacenen activos de criptodivisa de forma más libre y segura.
  • Con sede en Singapur, Stack Funds es un gestor de fondos regulado que se centra en Bitcoin Code y otros activos digitales.
  • Según el informe de Bloomberg, Stack Funds pondrá a disposición de sus clientes los servicios de custodia segura de Fidelity, principalmente con sede en Asia. La empresa señaló que el mercado asiático ha estado creciendo continuamente en demanda hacia la industria de la criptodivisa, especialmente de inversores de alto valor neto y family offices.
  • Stack explicó además que todos los activos bajo su gestión serán auditados mensualmente. La empresa proporcionará cobertura de seguro, contribuciones semanales y reembolsos para mejorar la seguridad del capital.
  • El cofundador de Stack, Michael Collett, dijo que la participación de Fidelity permitirá a su empresa atraer aún más inversores de la región.
  • Por otra parte, Christopher Tyrer, director de Fidelity Digital Assets Europe, cree que „hay una necesidad crítica de plataformas que tengan un profundo conocimiento de lo que buscan los inversores locales y regionales“. Sin embargo, admitió que el espacio de los activos digitales „históricamente ha carecido“ de tales plataformas.
  • Tras su éxito en los Estados Unidos, Fidelity Digital Assets amplió sus servicios de criptocracia a Europa el año pasado. La empresa tiene como objetivo entrar en el mercado asiático también ahora con la asociación Stack Funds.

According to this indicator, the Ethereum price could rise 35% or more against Bitcoin

You can literally hear it simmering at the Ethereum course. Something is boiling under the surface and as I will show in this article, there is convincing evidence that the price per ETH compared to the Bitcoin price could break out very soon.

The past few days have undoubtedly been positive for investors in the cryptocurrency space

Above all, the Bitcoin price is one of the better performers among the top cryptocurrencies with an increase of 15.4%. In comparison, the Ethereum price has lagged behind Bitcoin with a price increase of 7.4% in the last 7 days . Certainly 7.4% is anything but bad within a week, but it is barely half of what Bitcoin has achieved. But the lag for Ethereum could come to an end very soon.

A chart was recently posted on the Telegram channel of , which indicates that the Ethereum rate could soon be ahead of the Bitcoin rate.

The ETH / BTC chart shows what is commonly known as the falling wedge pattern. What exactly this formation says about the Ethereum course and its possible performance in the next few days, let’s take a closer look.

Ethereum price against Bitcoin in the falling wedge formation

A falling wedge formation is rare, but easy to spot. It has few and at the same time very clear characteristics. Above all, this includes two downward sloping trend lines. Both of these trend lines must intersect at the top of the formation. This means that although both trend lines are sloping downwards, the falling angle of the upper line is steeper. As we can see, the Ethereum course fulfills this first feature.

There should be a total of at least 5 touches on the trend lines so that an actual wedge formation can be assumed here. Otherwise there is reason to be skeptical. As we can see, however, the Ethereum course compared to Bitcoin also fulfills this feature with flying colors.

Another feature is that this formation lasts for at least 3 weeks. As a rule, the wedge formation moves within a time window of 3 weeks to 4 months. The Ethereum price has been moving in its formation for almost 3 months. In addition, it has reached the top of the formation, which suggests an early breakout (if the pattern picks up).

Finally, the volume trend gives us the final characteristic of the wedge formation, even if it is not a must. The volume usually decreases steadily until the eruption within the formation. This feature is also fulfilled by the Ethereum course against Bitcoin.